When China announced in 2019 that it was working on its own national digital currency, there was widespread speculation about what role the blockchain would play in the digital yuan, or e-CNY. One reason for this was that the news of the digital yuan came just as Facebook announced its own digital currency, the Libra, which was later renamed Egg, and killed after selling its assets.
The warning signs of the regulatory hurdles facing Facebook were clear from the start, three years ago it was not clear that Facebook, one of the world's largest technology companies, would fail. So Beijing has extended its timeline for launching